Papua New Guinea’s Economic Growth by next year will be over 21 percent with many challenges says Prime Minister Peter O’Neill.
Mr O’Neill raised this point when addressing new Members of the Accountants Registration Board on PNG recently.
The challenges he says will require Accountants to be vigilant and proactive.
Prime Minister O’Neill said while the country is enjoying economic growth and stability, there will be challenges ahead and accountability will be an issue. He said role of an accountant is important as it ensures that there is accountability and transparency in an organization.
He said the task of promoting accountability, transparency and good governance involves several key players including the Department of Finance, the Public Accounts Committee and the Auditor General’s Office. Certified Practicing Accountants PNG must ensure member organizations achieve the standard required.
Papua New Guinea Accountants Act of 1996 was one of the important initiatives of the government which has been successfully passed by parliament and received its assent from the Head of State.
Mr O’Neill said despite all challenges, PNG has a bright future and the O’Neill- Dion government has ensured funding goes to education, health, law & order, infrastructure & economy for the people.